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10 Feb 2010 09:38
Noventa Limited
("Noventa" or the "Company")
Trading Update
10 February 2010
Noventa has terminated the agreement of its subsidiary Highland African Mining Company Limited for the sale of Morganite produced by the Marapinno mine, with Miranda Gems Hong Kong Limited ("Miranda").
An agreement has been reached with an additional counter party of the afore-mentioned agreement to acquire the Morganite in various states of treatment to produce the finished gem stones, which were on consignment to Miranda, for a consideration of US $1 million.
Eric Kohn TD Chairman stated that "We are pleased to have realised the additional funds which will be used in restarting the Marropino Mine and provide additional working capital."
For further information please contact:
Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
Nick Harriss/Emily Staples
Blomfield Corporate Finance Limited (Nomad)
+44 20 7444 0800
Daniel Briggs Religare Hichens, Harrison plc (Broker) +44 20 7444 0500
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